The Banque Internationale Arabe de Tunisie (BIAT) announced that its Board of Directors has approved at its meeting on March 18 the individual and consolidated financial statements for the financial year 2019.
These statements show a net profit for the year of 333 million dinars and a consolidated net profit of the group of 344.8 million dinars. The shareholders’ equity therefore reaches 1.47 billion dinars, including the result of the year.
The Board of Directors has also decided to convene an Ordinary General Meeting to be held on 20 April 2020 to approve the financial statements for the financial year 2019, and proposes the distribution of a dividend of 6 dinars per share.
An Extraordinary General Meeting which will be held at the end of the Ordinary General Meeting in order to deliberate on the proposal of a capital increase of the bank by capitalization of ordinary reserves in the amount of 8.5 million dinars and the issue of 850,000 new shares to be allocated free of charge to the former shareholders at the rate of one (1) new free share for 20 old shares.
To this end, the bank’s capital will increase from 170 to 178.5 million dinars. The new shares will be entitled to dividends as of January 1, 2020.
